Coinbase massive increase in users

Last Updated: 13 May 2021

The 2021 year has seen massive surge in the use of crypto-currency due to the increase in the price of bitcoin. It has become point of attraction for all the crypto-lovers and other people. With the increase in the price of different coins, the use of the platforms like coinbase and other have seen a overwhelming increase in the number of users. This shows that the people are greatly involved into the market. Coinbase is a most prominent crypto exchange that has been providing services to the users for more than 10 years.
Big news has come around the corner as with the massive surge in the users and total asset of coinbase has reached to its record level.
A latest report published by coinbase that it has surpassed the 43 million active registered users and over $90 billion asset has been recorded with in short span of time.
Previous history of the coinbase and its users
Previous history shows that the coinbase users and its total platform’s worth were almost half in the mid 2020 year. This massive gain has come under the recent bull-run in the crypto market that has resulted in the record increase in the number of users.
Reasons behind the massive increase in the coinbase platform
Micro-strategy
The big giants have come to acknowledge the bitcoin and have been investing massively in it. Micro-strategy has added the bitcoin of worth $2.3 billion.
Ruffer investment
Ruffer has allocated the whooping amount of $ 750 million to buy bitcoin.
All these developments have helped coinbase to grow and are expected to grow more as the time will pass.
Biden’s administration new appointment of CFTC
There is bullish news for the crypto lovers, as the US new government is all set to appoint a chairman of Commodities futures trading commission, who is a lover of crypto. All the new appointment about the currencies and other major developments are soon to be resolved. All the major key position holders are backing crypto and this may be a new turning point in this industry. The key players that are expected to hold key positions are Yanet Yellen, Gary Gensler, Michael Barr and Chris Brummer can be the key writers about the future of crypto policy. The main concern the world is facing about the illegal use of crypto in money-laundering and terror-financing.  The new US administration will try its best to carve out a working mechanism that can be fruitful for the countries and crypto world.

Author

  • Hello, my name is Luke Handt; I am a successful Bitcoin trader, financial analyst, and researcher. I have been studying the market trends for the conventional stock exchange system globally since I was in college.

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